The Africa Risk-Reward Index (2023), ranked Uganda as the most attractive economy to invest in within the East African Community (EAC) and the third across the entire African continent. The report commends Uganda for interventions in improving the business environment which has made the country attractive for investors. The ranking is mainly attributed to Uganda’s macroeconomic stability; enhanced political stability; and infrastructure development.
Uganda requested for duty free access during the Uganda-Algeria Trade and Investment Summit: The Uganda-Algeria Business Summit was held in September, 2023. The Summit attracted Fourteen (14) Ugandan companies and seventeen (17) Algerian Companies and these agreed to export products to either side. Uganda sought for market for Milk powder worth USD 700 million, Coffee, Beef, Fruits and Tea as long as they comply with quality and standard requirements of the Algerian Market.
The parties agreed to collaborate in the establishment of:
- A poultry factory in Uganda that also produces packaging materials for poultry products. All eggs produced from this factory will be exported to Algeria;
- An irrigation and water reservoir demonstration facility in the cattle corridor in western Uganda effective immediately;
- Power distribution and street lighting in Northern Uganda; and
Collaboration in production and exportation of shea butter from Uganda to Algeria.